If I were you I’d look for a subset of a more expensive market.

Here's an example why:- One of our people made a mistake last year, and entered an expense of $1500 instead of $150 - they accidently typed an extra "0". - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

Just because your guest paid one price a year or two ago doesn't mean you haven't had higher expenses or more traction in bookings to add to demand.  

I get 4 expensive bookings from them for every 1 from airbnb.

They are more expensive than conventional, but not by a huge amount.

Advice: - learn to underwrite expenses.  

Cash flow seems like the obvious one but I'm struggling with the concept of building equity at expense of cash flow. 

The Numbers:Cash Flow Analysis: Investors typically look for properties that will generate positive cash flow—meaning the income from rent covers the property’s expenses (mortgage, taxes, maintenance, etc.) and then some.

It seems your lender is a bit more expensive coming in at WSJ prime + 1.65%.

I gained equity in the property, and I got higher rents which lowered my living expenses while living there.